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STOCK-BASED AWARD PLANS (Tables)

3 Months Ended

Mar. 31, 2025

Compensation plans:

Schedule of ESPP valuation assumptions

​

​	​	​	​	​	​	​
​	Offering Period Ending
​	5/31/2025		​	5/31/2024		​
Fair market value of common stock	$	54.64	​	$	27.82	​
Volatility		26.4	%		36.6	%
Expected term (years)		0.5	​		0.5	​
Expected dividend yield		-	%		-	%
Risk-free interest rate		4.4	%		5.3	%

Schedule of stock-based compensation expense related to incentive awards

​

​	​	​	​	​	​	​
​	​	For the three months ended March 31,
​	​	2025			2024
​	​	(unaudited)
Stock-based compensation expense:	​	​	​	​	​	​
Stock options	​	$	311	​	$	2,606
RSUs	​		19,353	​		13,003
RSAs	​	​	298	​	​	490
PSUs	​	​	830	​	​	—
ESPP	​		252	​		225
Total stock-based compensation expense	​	$	21,044	​	$	16,324

Schedule of stock based compensation expense in consolidated statement of operations

​

​	​	​	​	​	​	​
​	​	For the three months ended March 31,
​	​	2025			2024
​	​	(unaudited)
Stock-based compensation expense:	​	​	​	​	​	​
Cost of revenues, software subscriptions	​	$	2,227	​	$	1,590
Cost of revenues, services	​		1,696	​		1,006
Research and development	​		4,352	​		3,373
Selling and marketing	​		5,806	​		4,222
General and administrative	​		6,963	​		6,133
Total stock-based compensation expense	​	$	21,044	​	$	16,324

​

Employee Stock Option

Compensation plans:

Schedule of Option activity

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	​	Weighted	​	Average	​	​
​	​	​	​	​	Average	​	Remaining	​	Aggregate
​	​	​	​	​	Exercise	​	Contractual	​	Intrinsic
2020 Plan Option Activity	​	Units	​	​	Price	​	Life (Years)	​	Value
​	​	(unaudited)
Outstanding at January 1, 2025	​	2,970	​	$	6.93	​	4.4	​	$	137,857
Exercised	​	(387)	​	​	4.04	​	​	​	​	​
2020 Plan options outstanding at March 31, 2025	​	2,583	​	$	7.36	​	4.4	​	$	71,401
2020 Plan options exercisable at March 31, 2025		2,513	​	$	7.05		4.3	​	$	70,260

Schedule of outstanding, vested and exercisable

​

​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
​	​	Options Outstanding			​	Options Vested and Exercisable
​		​		Weighted		​		Weighted
​	​	​	​	Average	​	​	​	Average
Exercise Prices	​	Units	​	Life (Years)	​	Units	​	Life (Years)
​	​	(unaudited)
$0.15 to $0.71		310	​	*	​	310	​	*
$2.50		444	​	1.6	​	444	​	1.6
$3.17		113	​	2.9	​	113	​	2.9
$3.73	​	737	​	4.6	​	737	​	4.6
$4.70	​	466	​	4.9	​	466	​	4.9
$18.47	​	190	​	6.7	​	136	​	6.7
$18.96	​	60	​	6.4	​	60	​	6.4
$19.00		46	​	6.5	​	30	​	6.5
$32.16		217	​	5.9	​	217	​	5.9
​	​	2,583	​	​		2,513	​	​
*These options have indefinite contractual lives.		​	​	​	​	​	​	​

Restricted Stock Units

Compensation plans:

Schedule of Option activity

​

​	​	​	​	​	​
​				​	​
​	​	​	​	Weighted
​	​	​	​	Average
​	​	​	​	Grant Date Fair
​	​	Units	​	Value Per Share
Outstanding at January 1, 2025	​	4,534	​	$	19.96
Granted	​	1,119	​	​	45.43
Vested	​	(1,408)	​	​	18.68
Forfeited	​	(13)	​	​	32.26
Outstanding at March 31, 2025	​	4,232	​	$	27.08
​	​	​	​	​	​
​	​	​	​	​	​

Restricted Stock Awards

Compensation plans:

Schedule of restricted activity

​

​	​	​	​	​	​
​		​	​	​	​
​	​	​	​	Weighted
​	​	​	​	Average
​	​	​	​	Grant Date Fair
​	​	Units	​	Value Per Share
Outstanding at January 1, 2025	​	34	​	$	35.06
Outstanding at March 31, 2025		34	​	$	35.06

PSUs

Compensation plans:

Schedule of Option activity

​

​	​	​	​	​	​
​	​	​	​	Average
​	​	​	​	Grant Date Fair
​	​	Units	​	Value Per Share
Outstanding at January 1, 2025	​	192	​	$	53.46
Forfeited	​	(2)	​	​	53.46
Outstanding at March 31, 2025	​	190	​	$	53.46

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